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IN THE MEDIA New York Life in the news.
Check out this curated selection of stories featuring New York Life and our people.
InvestmentNews - 10/7/2024
Dealing with the 'Amazon and Uber Effect'
"...Matt Wion, who heads up New York Life's retail annuities business, says the industry needs to make the buying process easier… ‘We’ve been the number-one provider of income annuities for years,’ Wion said, citing a 30 percent market share of the single premium immediate annuity and deferred income annuity segment. ‘We’re in this for the long term, which I think is comforting to clients.'..."
A.M. Best - 10/4/2024
New York Life Names Two Leaders to AI & Data Team
"...New York Life has hired Vikas Sharma as chief data officer and Achuth Rao as head of artificial intelligence & data product management. They will collaborate closely with Alain Biem, chief data science officer, the rest of the AI&D leadership team, and enterprise partners to deliver innovative data and AI solutions..."
WFMJ - 10/4/2024
Mathews Elementary School awarded grant to create 'calm corners' for students in need
"...Each kit comes with directions on how to use it, a folder with grief resources for families from the New York Life Foundation, the book 'The Invisible String' by Patrice Karst, the book 'A Little Peaceful Spot by Diane Alber, workbook pages and a coping skills tool box..."
Bronx Times - 09/30/2024
New York Life and Yankees donate $100K to local non-profit
"...'We are proud to partner with the New York Yankees through this Strikeout Series to support organizations like SCAN-Harbor that are making a meaningful difference in the lives of our community's youth,' New York Life Foundation President Heather Nesle said. 'At New York Life, we know that middle school is a critical period, and out-of-school-time programs help students do better in school and build the skills they need for their future success. This contribution will make a positive impact for students navigating today's increasing academic, social and emotional challenges.'..."
New India Abroad - 09/27/2024
New York Life unveils statue honoring Indian American agent Jaydev Patel
"...'Thanks to his tireless work ethic, unwavering dedication, and commitment to his clients, Jay has delivered financial security and peace of mind to thousands of individuals and their loved ones,' said Craig DeSanto, New York Life chair, president and CEO, in a previous statement from the company. 'He's placed a staggering amount of life insurance coverage with clients that far exceeds the amount of any other agent in New York Life's 178-year history.'..."
Money.com - 09/23/2024
6 in 10 Older Workers Don't Think They'll Have Enough Money in Retirement
"...That's according to a recent New York Life survey on retirement readiness, which also found that Gen X workers — the oldest of whom will turn 60 next year — are particularly likely to say they're not financially prepared for retirement. Only 18% of Gen Xers say they’ve already 'successfully retired.'..."
Investor's Business Daily - 09/20/2024
In A Turbulent Year, Trustworthy Insurance Companies Shine
"...Still, some life insurers stand out. New York Life Insurance Co., a top three finisher in this year's Most Trusted Life Insurer category, has the highest possible ratings for financial strength from the four major credit rating agencies. 'Our financial strength is designed to make sure we'll be here when our clients need us,' said Aaron Ball, senior vice president at New York Life..."
CNBC - 09/11/2024
Stock futures inch lower as investors brace for more inflation and labor data
"...'The inflation report that we saw today is confirming a trend that we've acknowledged over the past couple of months, where now that the Fed is - and I think appropriately so - focused less on inflation and more on economic growth, that completely changes market reactivity,' Lauren Goodwin, chief market strategist at New York Life Investments, told CNBC's "Closing Bell" on Wednesday..."
Citizen Tribune - 09/07/2024
Friends of Hospice planning on 25th Annual grief camp
"...This Camp Erin location is made possible with support from the New York Life Foundation, as part of their ongoing commitment to guiding grieving families through the death of a loved one and providing them with tools to cope with loss..."
GOBankingRates - 08/30/2024
Cutting Expenses for 2025? Here's the No. 1 Cost To Get Rid of First
"...In addition, New York Life suggested you go through your subscriptions and make sure you're not doubling up. That means ensuring a subscription isn't included with another service you already have. You could also try experimenting to see which subscriptions you really need..."
A.M. Best - 08/30/2024
New York Life VP: Retirement Planning Strategies Vary Across Age Groups
"...Jessica Ruggles, corporate vice president, New York Life, said baby boomers are more likely to have savings than other generations, while younger workers, including Gen Z, are recognizing the importance of early planning..."
Douglas County Sentinel - 08/16/2024
DCSS becomes first metro system awarded grant to aid grieving students
"...The Douglas County School System is the first metro Atlanta school system awarded a grant to support children coping with grief and loss, thanks to the New York Life Foundation (NYLF). The $17,500 grant will support 35 DCSS schools by providing resources to K-12 educators, helping school communities better support grieving students..."
Sun Gazette - 08/14/2024
Little League to recognize its 2024 Community Heroes of the Year at Series
"...In 2024, New York Life teamed up with Little League to become the Presenting Sponsor of the Little League Community Heroes recognition program, further showing their commitment to the organization and its communities..."
Motley Fool (US) - 08/11/2024
Here's How Much Interest You Can Earn on $10,000 in Savings
"...If you have $10,000 to your name, you're in great shape. Only 38% of U.S. adults report having money in a savings account for emergencies, according to New York Life's latest Wealth Watch survey from June..."
Wired - 08/08/2024
Leveraging Gen AI to Augment the Human Experience in Insurance
"...New York Life maintains an unwavering commitment to being at the forefront of evolving technology trends. This includes leveraging technology, data, artificial intelligence (AI), and, more recently, generative AI (gen AI) to deliver exceptional experiences for clients and agents, as well as efficiencies across the enterprise to further the company’s growth and to help New York Life advance as an industry leader..."
GOBankingRates - 07/31/2024
5 Cities Where Gen Xers Have the Most Credit Card Debt
"...According to New York Life's latest Wealth Watch survey, debt balances are moving in the right direction. The Wealth Watch survey found that 'all generations have succeeded in decreasing their debt since the end of 2023.' However, credit card interest rates remain high. The Fed reported an average credit card interest rate of 22.76% in May 2024..."
Gazette Leader - 07/28/2024
Arlington-based 'Aspire' receives grant for student enrichment
"...'Students today face significant academic, social and emotional challenges, and out-of-school-time programs provide much-needed support,' said Heather Nesle, president of the New York Life Foundation. 'These programs have a proven track record of helping students do better in school and build the skills they need for their future success.'..."
BenefitsPro - 07/19/2024
Offering bereavement support remains a challenge in the workplace
"...'Grief is a natural experience, yet a topic not widely discussed,' said Heather Nesle, president of the New York Life Foundation. 'Our work in the bereavement space has shown the crucial nature of identifying those who are grieving, raising awareness of grief's impacts and highlighting the resources that are available..."
Pulse 2.0 - 07/10/2024
Norm Ai: Regulatory Compliance Company Closes $27 Million
"...Joel Albarella, Head of New York Life Ventures: 'New York Life is committed to leaning into AI solutions to enhance experiences for our clients, agents, and employees. Deploying AI within regulatory frameworks presents a unique set of challenges. Norm's platform comprised of Regulatory AI Agents represents a game-changing opportunity for our industry..."
Money Talks News - 07/08/2024
Can You Believe the Size of the Average Emergency Fund - for Every Generation?
"...Recently, New York Life surveyed 2,200 adults and asked those who have an emergency fund to describe how much they have tucked away. While a majority of Americans have no emergency fund at all, those who put away a stash of cash have accumulated a surprisingly large amount on average..."
WVEC- 06/30/2024
New York Life Foundation Supporting Students Dealing with Grief
"...Virginia beach public schools received a $30,500 grant from New York Life Foundation to help teens and children struggling with grief to heal. Robert Jamison with Virginia Beach Public schools says they will use money to enhance bereavement plans and encourage ongoing staff development..."
PLANSPONSOR- 06/28/2024
Retirement Industry People Moves
“…New York Life Institutional announced it is deepening investment in the small case Corporate Owned-Life Insurance market with the hire of Joe Grieco to lead distribution for enhanced nonqualified plan solutions. In the new role, Grieco will work on distribution channels with qualified plan advisers, registered investment advisers, employee benefits producers, and consultants. He will report to John Boma, head of bank owned-life insurance and COLI Distribution…”
Black Enterprise - 06/26/2024
Homage Paid To Late Willie Mays And Negro Leagues Main Events At Historic MLB Game
"...The bronze image of Mays was reportedly moved from Cooperstown, New York, for the first time and exhibited briefly at Rickwood Field. The nation's largest mutual insurance company, New York Life, contributed to the event by sending employees and agents to volunteer at MLB's Play BALL youth clinic. The insurer provided tickets and travel packages for HBCU students to attend the game and partnered with MLB to prominently feature period-appropriate signage in the outfield at the stadium..."
Forbes - 06/24/2024
Redefining Retirement: The Impact Of Fully Digitized Annuities In The Age Of AI And Blockchain
"...A great case study of AI in action is how New York Life recently began implementing AI to improve its marketing efforts, help make call center representatives and agents more productive and aid in underwriting and predictive modeling. Generative AI is helping New York Life find a form or answer to a policyholder question much faster than traditional means, leading to increased customer satisfaction scores and reduced churn rates..."
Little Black Book - 06/21/2024
How Razorfish's New R-Index Will Help Marketers Navigate 'Moments That Matter'
"...'As we explore opportunities to exceed our customers' expectations, we're leveraging data, tech, and AI to deliver exceptional experiences for clients and agents, along with efficiencies across the enterprise,' says Amy Hu, Chief Marketing Officer at New York Life. 'Our partnership with Razorfish, and the addition of R-Index, is enhancing our measurement capabilities - enabling us to better understand what best resonates with our key client segments.'..."
U.S. Soccer Federation - 06/19/2024
"...In celebration of the 25-year anniversary of the 1999 World Cup, the 1999 Women's World Cup team will be honored on July 13 at Red Bull Arena in Harrison, N.J. prior to kickoff of USWNT vs Mexico in the 'Impact 99' legacy match, presented by New York Life..."
Insurance Innovation Reporter - 06/18/2024
New York Life Hires Alain Biem as Chief Data Science Officer
"...New York Life has announced the hiring of Alain Biem as chief data science officer (CDSO), to lead the company's artificial intelligence (AI) team. In this newly created position, Biem will play a pivotal role in advancing broad AI and data science collaborations across the New York Life enterprise, particularly in enhancing the delivery and enablement of AI solutions, according to a New York Life statement..."
News 12 Bronx - 06/09/2024
Libraries Partner with New York Life Foundation to Give Away over 15,000 books
“…Our three major library system's want to help kids avoid the summer slide. This has been a well-researched phenomenon that kids, if they're not actively engaged throughout the summer, can lose up to three, or even more, months of learning from the from the year. So the libraries are giving away over 15,000 books thanks to the New York Life Foundation..."
Insurance Innovation Reporter - 05/30/2024
New York Life Group Benefit Solutions Announces Strategic Leadership Promotions
"...New York Life Group Benefit Solutions (NYL GBS, New York) is pleased to announce the promotions of two executives, Meghan Shea and Kristina Welke, to key leadership roles. The company says the appointments reinforce New York Life's commitment to delivering exceptional client solutions and innovative product offerings in the group benefits market..."
HR Brew- 05/29/2024
How New York Life reduced employee turnover
"...Those elements may include a strong value proposition and positive culture, where employees have a voice-at least according to Joanne Rodgers, CHRO at New York Life. The insurance company's employee turnover rate was 7% in 2023, compared to 10% in 2022, she told HR Brew. (The average turnover rate in US businesses was 17.3% between 2022 and 2023, according to Mercer data.) And thanks to some creative recruiting strategies, New York Life saw a 300% rise in internship applications for this year, Rodgers added..."
MarketWatch- 05/28/2024
You don't have to be dead to use life insurance. It can also fund long-term care.
"...Companies say they can afford these new hybrid policies because their actuaries and product developers have learned how to design better structures. 'There's a lot of developments around cost-sharing to incentivize better behaviors to keep cost increases lower,' said Jeff Beligotti, head of long-term-care solutions at New York Life, which offers a product called My Care that is based on health-insurance models..."
Bankrate- 05/14/2024
Will stubborn inflation force the Fed to raise interest rates again?
"...'Inflation may be sticky, but labor market and consumer indicators point to a slowdown in growth already occurring,' says Lauren Goodwin, economist and chief market strategist at New York Life Investments. 'The "goldilocks" mix of stable growth and disinflation is moving past us'..."
P&C Specialist- 05/07/2024
Five Ways Carriers Are Dropping Their Stodgy Image to Attract New Talent
"...Elizabeth Tyndell, head of talent acquisition at New York Life, says the company has been working with its marketing department to understand the perceptions of younger job seekers and making changes accordingly. 'Many job-seekers may not have thought about insurance historically or might have preconceived notions about what the industry might look like,' she said..."
Media contact
Kevin Maher
New York Life Insurance Company
(212) 576-7937
Kevin_B_Maher@newyorklife.com